Economy
Ethiopia Courts AIIB to Help Close Bishoftu Airport’s 8.75 Billion Dollar Funding Gap
BirrMetrics · 2 weeks ago · Read the Full Story on BirrMetrics
AI SUMMARY
Ethiopia has opened talks with the Asian Infrastructure Investment Bank to secure financing for the 12.5-billion-dollar Bishoftu International Airport project.
- Ethiopia opened discussions with the Asian Infrastructure Investment Bank to finance the Bishoftu International Airport project.
- The project's estimated cost has increased from 10 billion US dollars to 12.5 billion US dollars.
- Ethiopian Airlines plans to finance 30 percent of the cost, leaving an external funding requirement of approximately 8.75 billion US dollars.
- Finance Minister Ahmed Shide and Ethiopian Airlines CEO Mesfin Tasew presented the project to AIIB President Zou Jiayi.
- The African Development Bank has been appointed lead arranger, pledging 500 million US dollars subject to approval and aiming to mobilize up to eight billion US dollars.
- Bishoftu International Airport is located about 45 kilometres southeast of Addis Ababa and is designed to accommodate 110 million passengers annually.
- Construction officially began on January 10, 2026, with the first phase targeted for completion by 2030 to handle 60 million passengers a year.
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